The Bozeman weekly chronicle., 1887-03-09

An ordinance to provide funds for the
erection of a eity building in the city

An ordinance to provide funds for the
erection of city building in the city
of Bozeman, Mont.
Be it ordained by the city council of
the city of Bozeman:
Sec. l.. That for the purpose of pro
curing money fol the erection of city
building, to be used as city hall. fire
engine house, city offices and city prison,
within the city of Bozeman. Mont, a
loan shall be made by the issuance of
coupon bonds of the said city of Boze-
man to the amount of ten thousand dol
lars; said bonds shall be of the usual
form, one-half to be of the denomina-
tion of one hundred dollars each, and
one-half to be of the denomination of
five hundred dollars each, and shall
bear the signatures Of the city tire asurer
and city clerk, and be sealed with the
corporate seal of the city and shall be
redeemable at the option of the citv
after five years and become due and
payable ten years from date at the office
OF the said city treasurer, and bear inter-
est at the rate of seven per cent. per
annum, said interest payable semi-annu-
ally. said interest to be paid and said
bonds to be redeemed by the
levy of special tax for that purpose, in
excess of and in addition to the three
mill tax authorized by the oath section
OF Article five of the city charter, and
the faita of the city of Bozeman is here
by solemnly pledged for the payment of
the interest on said bonds and the prin.
c!pal thereof when they shall respect
lively become due. For the purpose the
payment of the interest on said bonds
and the principal thereof when it shall
become due or payable, there shall be
annually levied at the time the other
annual taxes are levied, tax of not ex-
ceeding one mill on each dollar yalua
ton of taxable property within the city,
which, tax, when collected, shall be
kept in separate fund, to be denomi-
mated the Sinking fund.-" which shall
be reserved AMI applied to the payment
OF the accrued interest and the redemp-
ton of said bonds.
Sec. 2. The foregoing section shall be :.
submitted to the qualified voters of the
city on the first Monday of April, at the
same time and places of the annual city
e.sot,o,', "fser d..e notice of cord out,nio-
sion as required by Sec. 6 of Art. 7 of the
city charter. and as provided by Ordin-
Elections"
Sec. 8. If the first section of this or.
dinance shall be approved at said elec.
tion, by the qualified voters. so as TO be !
in force, the city treasurer, when re-
quired by the city councill shall issue
said bonds in manner and form as in
said section provided, and the coupons |
attached thereto shall be signed by the |
said city treasurer and city clerk, and |
shall designate the amount, date, num- |
Der OF the bond, and the installment of |
the interest on the bond that they are
intended to pay.
Sec, 4. The city treasurer shall give |
notice by advertising in the newspapers
OF the city for four successive weeks,
that he will, on the first day of July,
1887, dispose of said bonds to the highest |
bidder at not less than their face value,
and he is hereby authorized to sell said
bonds after approval OF bid or bids
therefor by the city council at their par
value or upwards, and shall keep regis
ter of the same.
Sec. B.. The city treasurer shall nav
on the first day of January, 1883, and
semi-annually thereafter, upon presenta
tion at his Office of the proper conpons.
which shall show the amount due and
the number of the bond to which IL be-
longs, the interest due thereon, and shall
report and present to the city council in
his next ensuing financial report.
Sec. 6, Whenever at any time after
said bonds become redeemable, the sum
in said sinking fund shall exceed the
sum Of one hundred dollars over and
ioove accrued interest on the bonds out.
handing, the treasurer shall cause no.
ice to be published by four insertions in
newspaper published in the city that
ne Will within thirty days thereafter
,edeem said amount OF ponds, specifying
ne number thereof giving preference in
ne numerical order of the bonds, and if
,tter the expiration of saio thirty days
lie holder or holders shall fail or neglect
o present the same for pay ment, the in
crest thereon shall cease, and when so
..edeemed, said bonds shall be endorsed
paid by said treasurer, who shall re-
'ort and present the same to the city
'ounci!, who shall cause the same to be
'ancelled.
Sec. 7. That for the selling of said
'onds and disbursing money to nav the
interest or principal thereof, the city 4
reasurer shall receive as compensation ,
he-nalf OF one per cent, and it shall be
onsidered in full compensation for all
moneys handled in the above bonded
Sec. g.. This ordinance shall take ef
sct and be in full force only after the
rst section thereof shall have been an
roved by the vote of the qualified yot-
rs as provided by Sec. s, of Art. 7, of
ne city charter.
Approved this Sd day of March, 1886,
GEO. W. MONROE
FRANK MuLLIN, Mayor.
Clerk